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China's auto market contracts in 2018: industry association

Reuters  |  BEIJING/SHANGHAI 

BEIJING/(Reuters) - China's automotive market contracted in 2018, the country's top auto industry association said on Monday, marking the first time sales have hit reverse since the 1990s.

Shi Jianhua, at the Association of Automobile Manufacturers (CAAM), made the comment on Monday at a briefing to announce the industry's December sales data.

He also said that CAAM expected carmakers to face fiercer competition in 2019.

(Reporting by in and Brenda Goh in Shanghai; Editing by Himani Sarkar)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, January 14 2019. 12:00 IST
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